Newfoundland to Take Offshore Stake

Monday, September 17, 2007
The Canadian province of Newfoundland plans to take a 10% stake in new oil and gas projects off its coastline, Forbes reported. The demand was contained in the provinces 35-year energy plan recently released. The province will take a 10% stake in future offshore oilfields if they meet long-term strategic objectives and will pay its share of exploration and development costs, he said. Last month the province reached an agreement with oil companies Chevron, ExxonMobil, PetroCanada and Norsk Hydro ASA, giving it a 4.9 pct stake in the offshore Hebron project. (Source: Forbes)

Offshore

Onshore Spending on the Cusp of Recovery?

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US Offshore Lease Sale Yields $18 Mln in High Bids

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Canada May Ask Far-offshore Drillers to Pay Extra

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Navy

White House: Iranian Ships' Actions in Gulf Increase Risk of Miscalculation

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Australia Warns DCNS after Security Breach

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Scorpene Submarine Data Leak: Setback to Indian Navy

India has began multiple investigations to determine the extent of damage caused by the reported massive leak of secret data detailing the combat and stealth capabilities

 
 
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